Edtech Startup Mathpresso Secures Extended Series C Round

Mathpresso plans to utilize the investment in further strengthening their vertical services and execution strategy

learn more about Teena Jose

By Teena Jose

Company handout

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur Asia Pacific, an international franchise of Entrepreneur Media.

Seoul-based edtech startup Mathpresso has completed a Series C extension round, which brings the round's total to approximate $70 million. The newest round was participated by Signite Partners – a corporate venture capital arm of Shinsegae Group and YBM – one of Korea's largest education management companies. Previous backers including Goodwater Capital, SoftBank Ventures Asia, and Mirae Asset Venture Investment also participated in the round. Mathpresso plans to utilize the investment in further strengthening their vertical services and execution strategy.

"Amidst the funding winter and given current macroeconomic challenges, this investment validates our business productivity solutions in creating sustainable social impact," said Jake Lee, Mathpresso's chief executive officer.

The operator of one of Asia's largest education app QANDA, Mathpresso has previously secured capital from Google and GGV Capital; by recognizing text and mathematical formulas in a photo with optical character recognition (OCR) technology, QANDA provides detailed solutions and personalized learning content catered to each user's level. Since its launch, the app has accumulated over 75 million registered users in over 50 countries, claimed by the company in a statement.

"We are extremely grateful for the new and existing shareholders who supported us despite the tough market conditions. We reiterate our commitment to improving user experience and achieving profitable growth," said Soo Nahm, chief financial officer.

The startup was founded in 2015 by Ray Lee and Jake Lee who originally developed QANDA as a 1:1 Q&A service with top university tutors. With the mission to provide the most effective education for all, Mathpresso operates QANDA, an AI-powered learning app that allows students of all levels to receive instant answers and customized learning sources.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.

Related Topics


The Greasy, Glamorous Rise of Mascara

You won't believe the grimy gunk people used to smear on their eyelashes -- and still do.


Invest in Yourself: 10 Things Every Working Woman Should Do This Year

When striving for success, it is easy to forget about your mental and physical health. But without health, you cannot fully succeed. Follow these ten lifestyle strategies for success in your personal and professional life.


Improving Yourself Takes 9.6 Minutes of Work Each Day

Micro-habits are the antidote to a chaotic world, offering a pathway to sustainable change.

Business Ideas

How to Make Thousands of Dollars on the Side As a Virtual Assistant

Apply your skills and experience to create a lucrative virtual assistant side hustle or full-time business.